Vest Financial LLC Buys 70,120 Shares of McCormick & Company, Incorporated $MKC

Vest Financial LLC boosted its position in shares of McCormick & Company, Incorporated (NYSE:MKC) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 767,420 shares of the company’s stock after acquiring an additional 70,120 shares during the quarter. Vest Financial LLC’s holdings in McCormick & Company, Incorporated were worth $51,348,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MKC. SBI Securities Co. Ltd. boosted its position in McCormick & Company, Incorporated by 4.8% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,239 shares of the company’s stock worth $246,000 after buying an additional 148 shares during the period. ORG Partners LLC raised its position in McCormick & Company, Incorporated by 13.2% in the second quarter. ORG Partners LLC now owns 1,484 shares of the company’s stock worth $115,000 after acquiring an additional 173 shares during the period. Nicholson Wealth Management Group LLC boosted its position in McCormick & Company, Incorporated by 1.0% during the second quarter. Nicholson Wealth Management Group LLC now owns 19,127 shares of the company’s stock worth $1,450,000 after purchasing an additional 181 shares during the period. Modern Wealth Management LLC increased its position in shares of McCormick & Company, Incorporated by 5.9% during the second quarter. Modern Wealth Management LLC now owns 3,258 shares of the company’s stock valued at $247,000 after buying an additional 181 shares during the period. Finally, Nordea Investment Management AB grew its holdings in shares of McCormick & Company, Incorporated by 0.7% during the second quarter. Nordea Investment Management AB now owns 26,900 shares of the company’s stock worth $2,044,000 after purchasing an additional 190 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Insider Activity

In other news, major shareholder Lawrence Erik Kurzius sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 13th. The shares were sold at an average price of $67.43, for a total transaction of $3,371,500.00. Following the sale, the insider owned 246,762 shares of the company’s stock, valued at $16,639,161.66. This trade represents a 16.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brendan M. Foley sold 57,144 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $65.56, for a total value of $3,746,360.64. Following the completion of the sale, the chief executive officer directly owned 108,652 shares in the company, valued at approximately $7,123,225.12. The trade was a 34.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 146,158 shares of company stock valued at $9,635,824. Insiders own 23.80% of the company’s stock.

Analyst Ratings Changes

MKC has been the topic of several research analyst reports. Barclays reduced their target price on McCormick & Company, Incorporated from $82.00 to $72.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. UBS Group reduced their price target on shares of McCormick & Company, Incorporated from $71.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, October 8th. Wall Street Zen upgraded McCormick & Company, Incorporated from a “sell” rating to a “hold” rating in a report on Saturday, October 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of McCormick & Company, Incorporated in a research note on Tuesday, October 14th. Finally, Jefferies Financial Group lifted their price objective on shares of McCormick & Company, Incorporated from $78.00 to $79.00 and gave the company a “buy” rating in a report on Tuesday, January 13th. Four research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $76.63.

McCormick & Company, Incorporated Price Performance

Shares of MKC opened at $66.67 on Wednesday. The company has a market cap of $17.89 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 4.02 and a beta of 0.62. McCormick & Company, Incorporated has a twelve month low of $62.64 and a twelve month high of $86.24. The company has a quick ratio of 0.29, a current ratio of 0.71 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $66.90 and a two-hundred day moving average of $67.97.

McCormick & Company, Incorporated Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 12th. Investors of record on Monday, December 29th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.9%. This is a boost from McCormick & Company, Incorporated’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Monday, December 29th. McCormick & Company, Incorporated’s dividend payout ratio is 66.44%.

McCormick & Company, Incorporated Company Profile

McCormick & Company, Incorporated (NYSE: MKC) is a global leader in spices, seasonings and flavor solutions. Headquartered in Hunt Valley, Maryland, the company traces its origins to the late 19th century and has grown into a major manufacturer and marketer of branded and private‑label flavor products for consumer, industrial and foodservice markets.

McCormick’s product portfolio includes pure spices and herbs, blended seasonings, marinades, rubs, sauces, extracts and specialty flavorings, along with ingredient systems and custom flavor development for manufacturers and foodservice operators.